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Sep 20, 2012
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i have good timing sometimes, carl. but before we get to our guest, i'll tell you, when you hear about this guy's story, in my instance i feel like standing up and singing "god bless america." here's a guy who came from a communist country. one of the stories told about thomas pedderfy is that growing up in communist hungary in the '50s, a friend of his coming back from austria gave him some wrigley gum. what did he do? he chopped it up in little pieces and started selling it for a profit. when he went back to school the principal at his school said this is a communist country. where are your morals at? another neat story about this gentleman, in 1977 some not only credited him, ok, as you pointed out being the father of high-speed trading, he might be the father of the tablet computer. in the '70s he tried to make a prototype that could be referred to as a tablet computer to trade what ultimately became high-speed trading. he's the founder of interactive brokers. current ce oh. a great american. welcome to the show, th
i have good timing sometimes, carl. but before we get to our guest, i'll tell you, when you hear about this guy's story, in my instance i feel like standing up and singing "god bless america." here's a guy who came from a communist country. one of the stories told about thomas pedderfy is that growing up in communist hungary in the '50s, a friend of his coming back from austria gave him some wrigley gum. what did he do? he chopped it up in little pieces and started selling it for a...
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Sep 27, 2012
09/12
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. >> that's right, carl. discover financial, the best performer in the s&p 500 after posting better-than-expected earnings. it's -- was down a bit and also its credit card loans. business grew by 2.4%. a lot of revenues, about 100 million came in from the add ones, identity theft protection, credit monitoring and those are things that they actually just settled with the new financial services bureau on. it will be interesting to see how those metrics change in the coming quarters, carl. >> what a roller coaster ride for that name over the past couple of days, bertha. thanks a lot. >>> there's a new way to watch your favorite television shows that brings the characters and sometimes the news anchors to life. we'll tell you all about that. then we'll talk to the man trying to abolish the income tax in the state of nebraska. and later, why buying a lemon could be good for your wallet. how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research provider
. >> that's right, carl. discover financial, the best performer in the s&p 500 after posting better-than-expected earnings. it's -- was down a bit and also its credit card loans. business grew by 2.4%. a lot of revenues, about 100 million came in from the add ones, identity theft protection, credit monitoring and those are things that they actually just settled with the new financial services bureau on. it will be interesting to see how those metrics change in the coming quarters,...
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Sep 17, 2012
09/12
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carl? >> the art market? >> kayla, what's your sense in terms of whether or not this group, one year later, has a better platform, a list of demands, any other sort of more central themes to rally around as opposed to these disparate people who want to occupy various things? >> reporter: right. melissa, i think that they definitely have their act together a little bit more, even if not their message. the fact that they are taking their protests to the lobbies of some of these corporations that they have began protesting a year ago instead of just sitting in a park. that is a roughly new development, but they still haven't really crafted that message. it's still very disparate. it's still just anti-corporation, anti-corporate greed, anti-big business, anti-american capitalism. and it's unclear at this point whether that will have any traction. we do know, especially in watching the gamesmanship in this election season, that the rhetoric around the 1% or the 99% is probably its greatest achie
carl? >> the art market? >> kayla, what's your sense in terms of whether or not this group, one year later, has a better platform, a list of demands, any other sort of more central themes to rally around as opposed to these disparate people who want to occupy various things? >> reporter: right. melissa, i think that they definitely have their act together a little bit more, even if not their message. the fact that they are taking their protests to the lobbies of some of these...
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Sep 11, 2012
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carl? >> thanks a lot. >>> meantime, the first chicago teachers strike in 25 years into the second day this morning. it's left 350,000 students at home. the most contentious issues, performance evaluations and recall rights for laid off teachers. kevin tibbells with the latest on that. >> for the second day running, parents of some 400,000 kids here in chicago are trying to find alternate places to take their children because the teachers here in the public school system remain on strike. i'm standing outside the headquarters of the chicago school board today. negotiations and this is probably the only bit of good news here, negotiations are continuing today. and the -- that talks are progressing and they could end this strike as early as today. unfortunately, from the teachers' side, their negotiators are saying that no deal is going to be made until the chicago public school board comes up with a better offer for them. what's the main sticking point? well, it doesn't really seem to be mon
carl? >> thanks a lot. >>> meantime, the first chicago teachers strike in 25 years into the second day this morning. it's left 350,000 students at home. the most contentious issues, performance evaluations and recall rights for laid off teachers. kevin tibbells with the latest on that. >> for the second day running, parents of some 400,000 kids here in chicago are trying to find alternate places to take their children because the teachers here in the public school system...
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Sep 5, 2012
09/12
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carl, we got to see it. i mean, this is not one of those where it's up in the air, it's okay either way. because of fedex which we're going to talk about. fedex shows you, listen. unless we turn the economy around we're going to have a lot more fedexes. >> let's bring it in. shares falling in premarket the package delivery company has cut their earnings guidance as weakness in the global economy constrained revenue growth at fedex express more than expected. fedex now seals the $1.37 to $1.43 for the quarter ended august 31st. analysts were looking for $1.56 per share. we should mention express handles a lot of the international, jim. that's what they're seeing, a global problem here. >> we saw july 25th u.p.s. said something similar. fedex did not say at the time. this is the first time we've had down quarter for fedex in three years. i think that the natural assumption is maybe amazon is not doing that well. i don't want to make the natural assumption because there is just, the derivative play is always so
carl, we got to see it. i mean, this is not one of those where it's up in the air, it's okay either way. because of fedex which we're going to talk about. fedex shows you, listen. unless we turn the economy around we're going to have a lot more fedexes. >> let's bring it in. shares falling in premarket the package delivery company has cut their earnings guidance as weakness in the global economy constrained revenue growth at fedex express more than expected. fedex now seals the $1.37 to...
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Sep 13, 2012
09/12
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carl? >> shows how many choices we're going to have in the future as they try to win the living room. >>> still to come, we'll be joined by a member of the joint member's advisory council. what's truly amazing about mercedes new mbrace2 system... is i can follow all my sports... catch the latest breaking news... keep in touch with friends... follow the financial headlines... find a great restaurant... and with siriusxm i can get weather forecasts... all from here. in my mercedes-benz. [ male announcer ] introducing mbrace2. the most comprehensive cloud-based telematics system on the road. it's your world, from your car. mercedes-benz. the best or nothing. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we wil
carl? >> shows how many choices we're going to have in the future as they try to win the living room. >>> still to come, we'll be joined by a member of the joint member's advisory council. what's truly amazing about mercedes new mbrace2 system... is i can follow all my sports... catch the latest breaking news... keep in touch with friends... follow the financial headlines... find a great restaurant... and with siriusxm i can get weather forecasts... all from here. in my...
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Sep 12, 2012
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harder and harder, carl to keep those secrets. we're here all day, jon's going in, i'm out, we're going to be using carrier pigeons. >> telepathy. >> to bring you the latest headlines as they cross first on cnbc. >> of course. >> back to you. >> fortt's got it all worked out. he knows how this thing works. we'll see you later, brian sullivan and jon fortt in san francisco. >>> the capital markets op-ed, and gary who was talking about the dangers, the costs, gary, of not owning apple. >> good time right after that segment. carl, i talk a lot about relative performance. i do it onair and off air. yesterday talking to a former colleague of mine. and we're talking about this idea relative performance if you don't own apple. you remember a year ago, i said if you don't own apple as an active manager, it's essentially being short the stock given the relative performance it's cost you. everyone wants to know what the numbers are. we're going to show you the numbers. take a look at these numbers right now. this is the cost of not owning a
harder and harder, carl to keep those secrets. we're here all day, jon's going in, i'm out, we're going to be using carrier pigeons. >> telepathy. >> to bring you the latest headlines as they cross first on cnbc. >> of course. >> back to you. >> fortt's got it all worked out. he knows how this thing works. we'll see you later, brian sullivan and jon fortt in san francisco. >>> the capital markets op-ed, and gary who was talking about the dangers, the...
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Sep 25, 2012
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but it is funny you mention that, carl. a deal was in the works. let's call it $5 billion that fell apart today. i don't know what the companies are, by the way. sort of get these hints occasionally because company a didn't feel synergies were there with company b. therefore they chose not to move ahead. that is typical of what's going on these days. >> remember, in this report they are very specifically saying here, when we announced the acquisition we said the benefits were 400 million by 2015. they are already getting there. now joint global talked on "mad money" that it's the after market part that is you need. in the end, when you buy at the top, you're very defensive. this is not aol/time warner. at the same time, had they waited a couple, 18 months, they would have gotten a very different dynamic. >> very different deal. it would have been time warner buying aol. by the way, greatest deal ever done for the shareholders. >> sometimes you have winners and losers. >> that's right. there always are. >> the entire sector is down across the board.
but it is funny you mention that, carl. a deal was in the works. let's call it $5 billion that fell apart today. i don't know what the companies are, by the way. sort of get these hints occasionally because company a didn't feel synergies were there with company b. therefore they chose not to move ahead. that is typical of what's going on these days. >> remember, in this report they are very specifically saying here, when we announced the acquisition we said the benefits were 400 million...
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Sep 18, 2012
09/12
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i'm melissa lee along with carl quintanilla. let's get you started. it looks like another drift lower. keep in mind we saw lower fractions. that's what i mean by drift when i say drift lower. take a look at the action over in europe. stocks continue to move further away from 14-month highs. the concern today that perhaps spain will not, in fact, seek a bailout. so our roadmap this morning starts with yet another warning from fedex, the shipping giant blaming a slow global economy. but is this a macroissue or consumers no longer paying extra for express service. >> apple did it. expectations still high as preorders for the iphone 5 cross 2 million. >> prices on "squawk box" this morning, speaking of which, what was up with oil's mysterious decline yesterday and is it bad for confidence. >> ford is being called the most important model in decades for that company. we're going to be hearing from the ceo alan mulally. fedex states the q1 results are below its own exec sagss saying weak global conditions damped growth. my big question today, jim, was when
i'm melissa lee along with carl quintanilla. let's get you started. it looks like another drift lower. keep in mind we saw lower fractions. that's what i mean by drift when i say drift lower. take a look at the action over in europe. stocks continue to move further away from 14-month highs. the concern today that perhaps spain will not, in fact, seek a bailout. so our roadmap this morning starts with yet another warning from fedex, the shipping giant blaming a slow global economy. but is this a...
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Sep 28, 2012
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carl. >> thanks, david. when we come back president of france's first annual budget putting a large tax on the rich and large companies to slash the deficit. will the wealthy flee in response? first rick santelli is working on the next hour of "squawk on the street." hey, rick. >> hi, carl. you know, yesterday when the spanish budget came out people on the floor were running around. i grabbed one of my sources and said hey. do they like it? he goes they must. stocks have rallied. when did the stock market become the validation for all economic fundamentals? we know that quantitative easing distorts stock prices. this is the topic. the real topic is lest we forget because there have been stock markets in the past like the nasdaq that have important lessons for us to learn and we'll go over all of that at the top of the hour. [ horn honks ] hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that th
carl. >> thanks, david. when we come back president of france's first annual budget putting a large tax on the rich and large companies to slash the deficit. will the wealthy flee in response? first rick santelli is working on the next hour of "squawk on the street." hey, rick. >> hi, carl. you know, yesterday when the spanish budget came out people on the floor were running around. i grabbed one of my sources and said hey. do they like it? he goes they must. stocks have...
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Sep 24, 2012
09/12
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carl? >> i remember asking you on friday if retailers other than apple stores would have them and your advice was to go to an apple store. that was a good call. meantime, this foxconn news, a fight breaks out at a dormitory. what do we know about whether or not that might impact the supply of the 5? >> reporter: hard to say. i was trying to get out of apple what the impact might be. the word out there is that the back plates for the iphone 5s might have been manufactured in this facility which is shut down for the day. what we know about what happened over the weekend, what foxconn is saying this uprising involved about 2,000 workers. it happened around 11:00 p.m. local time at a privately managed dorm there. the fight doesn't appear to have been work related, it was originally said it was between a worker and a guard. 79,000 workers at this facility overall. that's kind of a big incident. we'll have to wait and see how it affects supplies. >> we have disagreements at the coffee and water c
carl? >> i remember asking you on friday if retailers other than apple stores would have them and your advice was to go to an apple store. that was a good call. meantime, this foxconn news, a fight breaks out at a dormitory. what do we know about whether or not that might impact the supply of the 5? >> reporter: hard to say. i was trying to get out of apple what the impact might be. the word out there is that the back plates for the iphone 5s might have been manufactured in this...
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Sep 19, 2012
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thank very much. >> thanks, carl. we have some breaking news from groupon and let's go to julia boorstin with the latest. >> groupon is getting into mobile pages taking on established payers like american express and square which is partly owned by visa along with paypal and google. the service called groupon payments allows small businesses using groupon's merge ants apps to a touch a swiper and it will charge 15 cents per swipe plus fees and one point for mastercard, vase and discover. square charges merchants a flat 2.75% rate per swipe. groupon is targeting restaurants, salons and spas, businesses too small to pay the small fees that amex charges and too big to rely on square's doggel. it hopes to lure businesses by processing payments overnight instead of the days that most credit card companies take. plus businesses get analytics on their transactions, while groupon gets details on how consumers shop. let's take a look at how groupon sales are today and they're down over 80% since the company's ipo last november
thank very much. >> thanks, carl. we have some breaking news from groupon and let's go to julia boorstin with the latest. >> groupon is getting into mobile pages taking on established payers like american express and square which is partly owned by visa along with paypal and google. the service called groupon payments allows small businesses using groupon's merge ants apps to a touch a swiper and it will charge 15 cents per swipe plus fees and one point for mastercard, vase and...
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Sep 6, 2012
09/12
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good morning, rick. >> good morning, carl. i want to welcome my european sage mark rand from southwest securities and cover three topics, mark, conditionality and sterilization and growth. start with the first one. the conditionality takes away the notion everything is unlimit. it is all about the conditionality to traders on the floor. >> i agree. i think the big surprise is probably going to be the ecb will never be allowed to do anything, and i want to walk you down that path for a minute and give you the evidence. first place, the conditionality issue is centered to the ecb being able to do anything. that's that they agreed to. what do we find? we find in the last few days which none of your analysts have mentioned this morning, we find that the netherlands has just said the prime minister, there is not going to be any more money from the netherlands for grease and two days before that we have the finance minister of austria saying the austrians are done, they have had it, they're not going to any more austrian money to an
good morning, rick. >> good morning, carl. i want to welcome my european sage mark rand from southwest securities and cover three topics, mark, conditionality and sterilization and growth. start with the first one. the conditionality takes away the notion everything is unlimit. it is all about the conditionality to traders on the floor. >> i agree. i think the big surprise is probably going to be the ecb will never be allowed to do anything, and i want to walk you down that path for...
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Sep 26, 2012
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good morning, rick. >> good morning, carl. like an answering machine, there's a loop and the markets have a loop and we're seeing this loop again and we all know what it is. let's look at some one-month charts. it's starting to come down. you can see aggressively the boon chart, over the sea, over the pond. their rates on the ten-year maturity are looking very similar. also moving down. well, what's moving up? let's look at a one-month chart of two-year maturities in spain. you can see what's kicking up. about 25 basis points. you can see what's kicking up on the ten-year. very similar move. but as important as that is, it's a parallel shift on their curve, meaning the short end and the long end rates have moved up together. many believe the trigger is the next chart. we are bumping along a very significant area. if we start to move much below the steepness of 250 basis points that separate those two maturi maturities, it might be something to pay attention to. as for what's going on in europe, tomato, tomato what's in a word?
good morning, rick. >> good morning, carl. like an answering machine, there's a loop and the markets have a loop and we're seeing this loop again and we all know what it is. let's look at some one-month charts. it's starting to come down. you can see aggressively the boon chart, over the sea, over the pond. their rates on the ten-year maturity are looking very similar. also moving down. well, what's moving up? let's look at a one-month chart of two-year maturities in spain. you can see...
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Sep 10, 2012
09/12
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carl quintanilla has the day off. let's take a look at how we're getting you started. edging off the multi-year highs hitting friday, dow looking to give up 30 points at the open. s&p giving up 2.50. we have red arrows across the board except for the ftse. this monday roadmap starts off with the multi-year highs we saw in stocks, pushed higher by multi-year highs on the likes of apple, google, procter & gamble and wells fargo. >> concerns about china grow deeper. imports and factory output were disappointing. could it mean more stimulus is on the way? >> the u.s. treasury slashing its stake in aig, becoming a minority shareholder for the first time since the financial crisis again. what it means for you, the taxpayer, in just a moment. we have to start with the markets, coming off a week in which the s&p 500 settled at its highest level since january 2008, the s&p and nasdaq posting their best weekly gains in three months. and the dow logging its best week since july 27th. friday's weaker than expected jobs report. >> you have to have the federal reserve say, we'll hav
carl quintanilla has the day off. let's take a look at how we're getting you started. edging off the multi-year highs hitting friday, dow looking to give up 30 points at the open. s&p giving up 2.50. we have red arrows across the board except for the ftse. this monday roadmap starts off with the multi-year highs we saw in stocks, pushed higher by multi-year highs on the likes of apple, google, procter & gamble and wells fargo. >> concerns about china grow deeper. imports and...